shareholders plan to lead relisting of ccu, page-14

alpaka, look, I'm sorry to pour cold water on your ideas, but you've got most of it wrong. It's just not like that at all.

Firstly, the CBA loan became due, in full, on the day the administrator was appointed. So that whole lot is payable, plus someone needs to negotiate with te bank (presumably the CBA) who provided the $5.5m guarantee to the NSW govt. for rehabilitation costs (see note 11 of the half yearly).

Secondly, Magna's loan became repayable on appt. of the administrator. Need to negotiate with Magna - probably easier than the CBA/NSW as they are a shareholder too, but still needs to be done.

Thirdly, the trade creditors want their $13m.

All earlier deals are off the table. You can't expect to rejuvenate the company with a CR of $8m. If Sprotts want to put in $12.5m - they can probably have the whole company for that now as an asset purchase, the bank are happy and stuff Magna and the rest of the creditors (and the shareholders).

"If you accept the plans outlined in the SPP presentation (link above), even if the silver price stays at current levels, the repayments are comfortable."

Sorry again, no way. If you still want to retain the debt, you (that is, the shareholders, if you want to put together a package) have to negotiate with the primary debt holders, CBA and Magna, and the administrator who acts on behalf of all the creditors including the $13m unsecured creditors.

I wish you all luck, I really do, but you are greatly underestimating the complexity of the situation.